{"id":17713,"date":"2021-05-10T15:45:35","date_gmt":"2021-05-10T15:45:35","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=17713"},"modified":"2026-04-23T19:41:01","modified_gmt":"2026-04-23T22:41:01","slug":"genting-hong-kong-creditors-to-accept-recapitalisation-package","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-hong-kong-creditors-to-accept-recapitalisation-package","title":{"rendered":"Genting Hong Kong creditors to accept recapitalisation package"},"content":{"rendered":"\n

Genting Hong Kong continues to deal with the impact of Covid-19 countermeasures.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- Casino and cruise ship operator Genting Hong Kong has announced it has reached a recapitalisation proposal with its stakeholders<\/strong>.<\/p>\n\n\n\n

Genting Hong Kong said the agreement will grant the company an extension of a US$2.6bn debt<\/strong>.<\/p>\n\n\n\n

Last year,\u00a0Genting Hong Kong<\/a>\u00a0announced it had\u00a0decided to temporarily suspend all payments<\/strong>\u00a0to financial creditors.<\/p>\n\n\n\n

The group said the new recapitalisation proposal will include a\u00a0reduction in interest margins and the suspension of amortisation payment\u00a0<\/strong>requirements of US$1.5bn for at least two years.<\/p>\n\n\n\n

The package also guarantees a\u00a0new US$261.5m loan, which includes a small stake in the company<\/strong>, in order to finish construction of its Crystal Endeavor and Global Dream vessels.\u00a0<\/p>\n\n\n\n

Genting Hong Kong also reported that it\u00a0hopes to raise nearly US$154m of additional liquidity<\/strong>\u00a0by December 31, 2021.<\/p>\n\n\n\n

Genting Hong Kong<\/a>\u00a0reported a\u00a0net loss of US$1.72bn for 2020<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Hong Kong continues to deal with the impact of Covid-19 countermeasures.<\/p>\n","protected":false},"author":176,"featured_media":17729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Hong Kong has secured a recapitalisation proposal with its stakeholders, extending US$2.6bn in debt and suspending US$1.5bn in amortisation payments for at least two years. This agreement, following a US$1.72bn net loss in 2020 due to Covid-19 impacts, includes a new US$261.5m loan to complete vessel construction and aims to raise US$154m in additional liquidity by year-end.","focusai_entities":"Genting Hong Kong, Crystal Endeavor, Global Dream","focusai_location":"Hong Kong","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), compliance_legal (0.75), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Asset Divestment?","query":"What are the implications of this recapitalisation proposal on Genting Hong Kong's potential asset divestment strategies, particularly concerning its non-core gaming verticals or cruise line assets, to further de-leverage its balance sheet?"},{"label":"Future Capital Structure?","query":"How does this debt extension and new loan facility alter Genting Hong Kong's long-term capital structure, and what are the projected equity dilution impacts from the new loan's stake component?"}],"footnotes":""},"categories":[16338,163],"tags":[23716],"class_list":["post-17713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-genting-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=17713"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17713\/revisions"}],"predecessor-version":[{"id":17748,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17713\/revisions\/17748"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17729"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=17713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=17713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=17713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}